11 November 2021 DAILY MARKET UPDATE - WisdomTree

MSCI World

-0.1%

MSCI EM

-4.3%

EUR Gov.

0.6%

US Gov.

0.1%

UK Gilt

-2.1%S&P 500

1.5%

Dow Jones

0.3%

Nasdaq 100

3.5%

EUR IG Corp.

-0.2%

USD IG Corp.

-0.1%

UK IG Corp

-0.4%Euro Stoxx 50

-3.6%

FTSE 100

-3.6%

DAX

-4.0%

EUR HY

-0.8%

USD HY

-0.3%CAC 40

-3.8%

FTSE MIB

-4.1%

IBEX 35

-2.9%

CoCos

-2.0%Nikkei

-1.8%

Hang Seng

-3.2%

CSI 300

-2.0%DXY

1.0%

USD/EUR

1.0%

USD/JPY

0.5%Quality

1.0%

Momentum

0.8%

Min Vol

-0.3%

EUR/USD

-1.0%

EUR/GBP

0.3%

EUR/JPY

-0.6%Value

-2.5%

High Div

-2.3%

Size

-0.2%

GBP/USD

-1.2%

GBP/EUR

-0.3%CHF/USD

-0.8%

CHF/EUR

0.2%BCOM

0.8%

3M Fwd

0.4%

Roll Select

0.6%Optim Roll-WT

0.6%

UBS CMCI

0.3%

Brent Oil

1.5%

WTI Oil

0.3%

Natural Gas

1.1%Heating Oil

1.7%

Gasoline

1.1%

Carbon

-8.5%Gold

0.8%

Physical Gold

1.7%

Platinum

-2.7%Silver

0.5%

Physical Silver

5.0%

Palladium

2.4%

Wheat

5.7%

Corn

1.3%

Soybeans

-1.0%

INDUSTRIAL METALSSoybean Oil

2.0%

Cotton

-1.8%

Cocoa

-1.8%Aluminium

3.2%

Copper

-0.6%

Lead

0.4%

Coffee

-3.9%

Sugar

0.2%Nickel

1.4%

Tin

0.6%

Zinc

2.0%

Live Cattle

-1.7%

Lean Hogs

-2.3%

DIGITAL ASSETS VOLATILITYBitcoin

-7.3%

Ethereum

-9.2%

VIX

-0.7

VSTOXX

+4.7

WisdomTree MARKET UPDATE

PRECIOUS METALS

ENERGY

AGRICULTURE

WORLD EQUITIES FIXED INCOME

24 February 2022

WORLD EQUITY FACTORS

CURRENCIES

DAILY MARKET UPDATE

Daily Returns Heatmap

Top News1

For Professional Clients Only

COMMODITIES

Source: Bloomberg, WisdomTree. All data are as of 24/02/22 unless specified otherwise. Net Total Return Indices are used for equity assets. Total

Return Indices are used for Fixed Income. Excess Return Indices are used for commodities. Data about all indices can be found in 1 and 12.

+ President Biden imposed stiff sanctions on Russia. EU leaders backed a broad sanctions package.

+ Western allies see Kyiv poised to fall to Russian forces soon as fighting continued in Ukraine.

+ Federal Reserve officials stuck to their resolve to raise interest rates next month.

The Heatmap Live can be found on WisdomTree Short & Leveraged ETP Center here

WisdomTree Views and Insights on the market's evolutions can be found here .

WisdomTree also publishes short market news on its Short & Leveraged ETP Centre here .

WisdomTree.com n +44 (0) 207 448 4330

1) Relevant selected headlines news sourced from Bloomberg News. Historical performance is not an indication of future performance and

any investments may go down in value.

https://www.wisdomtree.eu/en-gb/blog/category/market-volatility?utm_source=PDF&utm_medium=Print&utm_campaign=SL-Daily-Update






https://www.wisdomtree.eu/en-gb/resource-library/short-and-leveraged-centre/market-news?utm_source=PDF&utm_medium=Print&utm_campaign=SL-Daily-Update






https://www.wisdomtree.eu/en-gb/resource-library/short-and-leveraged-centre?utm_source=PDF&utm_medium=Print&utm_campaign=SL-Daily-Update














2

ASSET CLASS OVERVIEW

Index NameClosing

PriceLast 1D Last 1W Last 1M

Year to

Date

Dividend

Yield

Price to

Earnings Ratio

MSCI World 2,906 -0.1% -3.4% -3.2% -9.9% 2.0% 17.3

MSCI EM 1,155 -4.3% -7.1% -5.4% -6.2% 3.3% 11.7

S&P 500 4,289 1.5% -2.1% -2.7% -9.9% 1.5% 19.2

Dow Jones 33,224 0.3% -3.1% -3.2% -8.4% 2.1% 17.5

Nasdaq 100 13,975 3.5% -1.4% -3.6% -14.3% 0.8% 24.5

Euro Stoxx 50 3,829 -3.6% -6.9% -5.5% -10.7% 3.4% 13.2

FTSE 100 7,207 -3.6% -4.1% -0.8% -2.0% 4.1% 11.4

DAX 14,052 -4.0% -8.0% -6.5% -11.6% 3.2% 12.5

CAC 40 6,521 -3.8% -6.1% -3.9% -8.8% 3.2% 12.8

FTSE MIB 24,880 -4.1% -6.7% -4.2% -8.8% 4.7% 9.8

IBEX 35 8,199 -2.9% -5.5% -2.6% -5.6% 4.3% 12.2

Nikkei 25,971 -1.8% -4.6% -5.9% -9.8% 2.1% 15.9

Hang Seng 22,902 -3.2% -7.6% -7.1% -2.1% 3.2% 10.8

CSI 300 4,529 -2.0% -2.2% -5.4% -8.3% 2.3% 13.5

LAST 5 DAYS PERFORMANCE FOR S&P 500 and EURO STOXX 50 FUTURES1

Worst Discount in 2020

Historical Average Discount

Average Bid Offer Spreads in Nov 2019

EQUITY MARKET RISK SENTIMENT

Volatility Index ∆1D ∆1W ∆1M ∆year to DateAverage Last

10Y

VIX -0.7 2.2 0.4 13.1 17.2

VSTOXX 4.7 9.3 5.4 18.9 20.4

0.01%

-5.08%

0.08%

0.04%

LARGE EQUITY ETPS DISCOUNT TO NAV (LHS) AND BID OFFERS (RHS)2



Equity Focus

Source: Bloomberg, WisdomTree. All data are as of 24 February 2022 and using price return indices unless specified otherwise. Last 1D, Last

1W, Last 1M and Year to Date performance is calculated on net Total Return Index. Data about all indices can be found in Page 11 and 12.1) Intraday levels of the relevant Future for the indices as indicated in Page 11. 2) The 5 largest equity ETFs in the US and in Europe are used.

Historical performance is not an indication of future performance and any investments may go down in value.

WisdomTree.com n +44 (0) 207 448 4330

24 February 2022

Current Level

30.3

38.1

Europe DomiciledUS Domiciled

-0.63%

0.00%

3,700

3,900

4,100

4,300

4,500

4,100

4,180

4,260

4,340

4,420

Eu

ro S

tox

x 5

0

S&

P 5

00

S&P 500 Euro Stoxx 50

-2.0%

-1.0%

0.0%

1.0%

2.0%

Dis

co

un

t to

NA

V

US Domiciled Europe Domiciled

0.0%

0.0%

0.0%

0.1%

0.1%

0.1%

0.1%

Bid

Off

er

Sp

rea

ds


3


Index NameClosing


Year to

Date

Dividend

Yield

Price to

Earnings Ratio

MSCI World 2,906 -0.1% -3.4% -3.2% -9.9% 2.0% 17.3

Quality 3,004 1.0% -2.3% -4.4% -13.8% 1.6% 20.6

Momentum 3,023 0.8% -3.3% -2.4% -12.3% 1.6% 18.1

Min Vol 2,681 -0.3% -2.3% -3.4% -9.1% 2.2% 19.2

Value 1,188 -2.5% -5.0% -2.9% -3.3% 3.7% 9.1

High Div 1,374 -2.3% -3.9% -3.3% -4.7% 3.7% 13.1

Size 521 -0.2% -3.7% -2.7% -10.3% 26.5% 16.3

PERFORMANCE OF EQUITY FACTORS - LAST 3 MONTHS

REGIME ANALYSIS OVER THE LAST 20 BUSINESS DAYS

EXPECTED PRICE TO EARNINGS RATIO DIFFERENCE VS MSCI WORLD



Equity Factors Focus


24 February 2022

Source: Bloomberg, WisdomTree. All data are as of 24 February 2022 and using price return indices unless specified otherwise.Last 1D, Last 1W,

Last 1M and Year to Date performance is calculated on net Total Return Index. Data about all indices can be found in Page 11 and 12.

WisdomTree.com n +44 (0) 207 448 4330

Find out more about Modern Alpha with WisdomTree here .

-7%

-2%

3%

8%

13%

29 Oct 08 Nov 18 Nov 28 Nov 08 Dec 18 Dec 28 Dec 07 Jan 17 Jan 27 Jan 06 Feb 16 Feb

Pe

rfo

rma

nce

ve

rsu

s M

SC

I W

orl

d

Min Vol Quality Momentum Value High Dividend Size

-13

-6

1

8

15

Jan 15 Jan 16 Jan 17 Jan 18 Jan 19 Jan 20 Jan 21 Jan 22

PE

ra

tio

ve

rsu

s M

SC

I W

orl

d

Min Vol Quality Momentum Value High Dividend Size

1.0%

-1.0%

0.6%

-0.6%

1.2%

-1.2%

1.4%

-1.2%

0.7%

-0.7%

0.4%

-0.6%

1.1%

-0.9%-2%

-1%

-1%

0%

1%

1%

2%

2%

Average Returns when MSCI World is Up Average Returns when MSCI World is Down

Av

era

ge

da

ily

re

turn

s

MSCI World Min Vol Quality Momentum Value High Dividend Size

https://www.wisdomtree.eu/en-gb/modern-alpha?utm_source=PDF&utm_medium=Print&utm_campaign=SL-Daily-Update










4


Index Name Last 1D Last 1W Last 1MYear to

Date

Yield to

Worst

Modified

Duration

EUR Government Bond 0.6% 0.4% -2.8% -3.1% 0.5% 8.4

US Treasury 0.1% -0.0% -1.7% -3.3% 1.9% 6.9

UK Gilt -2.1% -2.5% -5.2% -7.3% 1.4% 12.5

EUR Corporates (IG) -0.2% -0.7% -3.5% -4.0% 1.3% 5.1

USD Corporates (IG) -0.1% -0.7% -3.8% -6.5% 3.2% 8.2

GBP Corporates (IG) -0.4% -0.7% -4.8% -6.0% 2.9% 8.2

EUR High Yield Bonds -0.8% -1.3% -4.0% -4.6% 4.9% 3.9

USD High Yield Bonds -0.3% -0.4% -2.8% -4.6% 5.8% 4.7

Global CoCos -2.0% -2.6% -4.2% -5.9% 5.4% 3.7

US TREASURY CURVE MOVES BOND ETPS DISCOUNT TO NAV1

GERMANY GOV. CURVE MOVES

US Dom. Europe Dom.

-4.35% -6.26%

0.22% 0.33%

BOND ETPS BID OFFER SPREADS1

HISTORICAL 10Y YIELDS

US Dom. Europe Dom.

0.01% 0.13%

FIXED INCOME MARKET RISK SENTIMENT

5Y Credit Spread (bps) Current Level ∆1D ∆1W ∆1M∆year to

Date

Average Last

5Y

iTraxx Crossover 369.6 17.8 39.1 87.9 127.9 281.8

CDX High Yield 369.1 -11.1 3.0 43.6 76.0 349.6




24 February 2022

Source: Bloomberg, WisdomTree. All data are as of 24 February 2022 and using total return indices unless specified otherwise. Data about all

indices can be found in Page 11 and 12.1) The 5 largest fixed income ETFs in the US and in Europe are used.

Avg. Bid Offers - Nov19

2020 Worst Discount

Hist. Average Discount

Fixed Income Focus

WisdomTree.com n +44 (0) 207 448 4330

0.2%

0.8%

1.4%

2.0%

2.6%

3m 1y 2y 3y 4y 5y 10y 15y 20y

Last 1D A week ago End of 2019

-0.8%

-0.5%

-0.2%

0.1%

0.4%

3m 1y 2y 3y 4y 5y 10y 15y 20y

Last 1D A week ago End of 2019

-0.4%

0.3%

1.0%

1.7%

2.4%

30/11 18/12 05/01 23/01 10/02

US Treasury 10Y German Treasury 10Y

-0.3%

-0.2%

-0.1%

0.0%

0.1%

0.2%

0.3%

0.4%

Dis

co

un

t to

NA

V


0.0%

0.1%

0.2%

0.3%

0.4%

0.5%

Bid

Off

er

Sp

rea

ds


5


Index Name Last 1D Last 1W Last 1MYear to Date

(YTD)

Broad Commodities 0.8% 3.3% 10.2% 16.2%

BCOM 3M Fwd 0.4% 3.0% 9.2% 14.7%

BCOM Roll Select 0.6% 3.0% 9.6% 15.2%

Optimised Roll - WT 0.6% 2.7% 8.5% 14.1%

UBS Bloomberg CMCI 0.3% 2.5% 8.0% 12.9%

UBS CMCI (BCOM) 0.3% 2.7% 8.9% 14.4%

Precious Metals 0.7% 1.8% 4.2% 5.4%

Energy 1.4% 4.6% 15.7% 27.5%

Industrial Metals 1.4% 1.6% 6.1% 10.0%

Agriculture 0.5% 5.1% 11.7% 16.0%

Grains 1.6% 8.1% 15.0% 19.8%

Softs -1.9% -1.8% -0.1% 3.1%

Livestock -1.9% -2.6% 4.8% 5.7%

PERFORMANCE VERSUS BCOM SECTORS PERFORMANCE - LAST 3M

RECENT NET POSITION FLOWS IN WISDOMTREE COMMODITY ETPs1

mUS$

as of 24/02/2022

Broad

Commodities

Precious

MetalsEnergy

Industrial

MetalsAgriculture

Last Day 9 -2 -190 12 3

Last Week 97 -141 -466 28 14

Last 4 Weeks 133 -252 -543 156 10

Year to Date 344 -301 -945 195 6

Baseline AUM (Dec 21) 927 15,406 2,653 2,054 629

Source: Bloomberg, WisdomTree. All data are as of 24 February 2022 and using excess return indices unless specified otherwise.


Find out more about Commodities with WisdomTree here .


24 February 2022

Broad Commodity Focus

WisdomTree.com n +44 (0) 207 448 4330

YTD Stands for Year to Date. BCOM Stands for the Bloomberg Commodity Index. Data about all other indices can be found in Page 11 and 12.

1) As of Net Position Flows and Net Position AUM are calculated by multiplying the AUM/Flow in a given ETP by the leverage of that ETP.


-500 -300 -100 100 300

Net Position Flows (mUS$)

Last Week Last Day

-20%

0%

20%

40%

60%

Pe

rfo

rma

nce

YT

D

Precious Metals EnergyIndustrial Metals AgricultureGrains SoftsLivestock Broad Commodities

-1%

1%

3%

5%

7%

Pe

rfo

rma

nce

ve

rsu

s

BC

OM

Optimised Roll - WT BCOM 3M FwdBCOM Roll Select UBS CMCIUBS CMCI (BCOM)

https://www.wisdomtree.eu/en-gb/resource-library/guide-to-commodities?utm_source=PDF&utm_medium=Print&utm_campaign=SL-Daily-Update








6

ASSET CLASS OVERVIEW4

Index NameClosing


Year to

Date

Current

Positionning

Positionning

2021 Avg.

Gold 1,926 0.8% 1.3% 4.5% 5.2% 242,762 211,312

Physical Gold 1,936 1.7% 2.3% 5.7% 7.2% 242,762 211,312

Silver 24.7 0.5% 3.3% 3.6% 5.6% 23,618 37,340

Physical Silver 25.3 5.0% 7.3% 5.2% 9.7% 23,618 37,340

Palladium 2,501 2.4% 6.0% 16.7% 30.7% -1,100 364

Platinum 1,062 -2.7% -2.8% 4.1% 9.9% 12,244 18,820

LAST 5 DAYS PERFORMANCE FOR GOLD AND SILVER SPOTS1

GOLD/SILVER RATIO LARGEST GOLD ETPS BID OFFER2

RECENT POSITION FLOWS IN WISDOMTREE PRECIOUS METALS ETPs3

mUS$

as of 24/02/2022Gold Silver

Precious

Metals

Last Day 5.5 -15.7 12.1

Last Week -122.8 -24.8 11.0

Last 4 Weeks -225.7 -3.1 8.2

Year to Date -287.1 76.2 -114.8

Baseline AUM (Dec 21) 11,745 2,574 349


Precious Metals Focus


-4.3

24 February 2022

-19.1

15.8

Platinum

-0.8

-0.3

-12.6

8.6

Palladium

-3.4

207 532

Source: Bloomberg, WisdomTree. All data are as of 24 February 2022. CFTC Futures net positionnings are as at 15 February 2022. 4)

Performances are calculated on the index listed in pages 11&12. Closing Prices are of the Front Month Future in USD. For physical commodity Data about all indices can be found in Page 11&12. 1) Intraday levels of Gold and Silver Spots in US$, see Page 11. 2) Bid Offer are calculated on

5 Large Gold ETPs 3) Net Position Flows and Net Position AUM are calculated by multiplying the AUM/Flow in a given ETP by the leverage of that

ETP. Historical performance is not an indication of future performance and any investments may go down in value.

WisdomTree.com n +44 (0) 207 448 4330

WisdomTree Views and Insights on Gold can be found here .

23.7

24.2

24.7

25.2

25.7

1,880

1,910

1,940

1,970

2,000

Sil

ve

r S

po

t ($

)

Go

ld S

po

t ($

)

Gold Spot Silver Spot

-130 -90 -50 -10 30


Last Week Last Day

58

66

74

82

90

29/10 19/11 10/12 31/12 21/01 11/02

Gold/Silver Ratio Long Term Average2019 Average

0.0%

0.5%

Bid

Off

ers


https://www.wisdomtree.eu/en-gb/strategies/gold-etcs-and-etps?utm_source=PDF&utm_medium=Print&utm_campaign=SL-Daily-Update










7


Index NameClosing


Year to

Date

Current

Positionning

Positionning

2021 Avg.

Brent Oil 95.4 1.5% 5.1% 12.8% 24.7% 109,485 76,531

WTI Oil 92.8 0.3% 3.1% 12.7% 25.4% 420,768 511,931

Natural Gas 4.6 1.1% 4.5% 19.9% 30.7% -132,109 -84,685

Heating Oil 285.5 1.7% 4.1% 14.7% 28.4% 5,177 19,239

Gasoline 291.7 1.1% 4.1% 16.2% 25.2% 63,288 52,458

Carbon 86.7 -8.5% 0.7% 3.6% 7.9% 29,782 46,761

LAST 5 DAYS PERFORMANCE FOR ENERGY FUTURES1

WTI OIL FUTURE CURVE1 BRENT OIL FUTURE CURVE1

RECENT POSITION FLOWS IN WISDOMTREE ENERGY ETPs2

mUS$

as of 24/02/2022

Brent

CrudeWTI Crude

Heating

OilGasoline

Natural

GasEnergy Carbon

Last Day -6.0 -192.5 0.0 0.3 8.8 0.2 -1.1

Last Week -9.3 -461.5 -0.3 0.2 5.6 0.9 -1.1

Last 4 Weeks -14.4 -636.6 -0.2 -0.3 19.1 2.1 86.8

Year to Date -94.8 -922.2 -0.5 -0.6 -152.0 141.4 84.0

Baseline AUM (Dec 21) 356 2,013 6 6 -14 81 205


Energy Focus


24 February 2022

Source: Bloomberg, WisdomTree. All data are as of 24 February 2022. CFTC Futures and ICE Futures (for Brent Crude Oil) net positionnings as

at 15 February 2022. 3) All Performances are calculated on excess return indices. Prices are those of the Front Month Future in USD. EUR for Data about all indices can be found in Page 11 and 12. 1) The Ticker of the future used for these graphs can be found in page 11&12. 2) Net

Position Flows and Net Position AUM are calculated by multiplying the AUM/Flow in a given ETP by the leverage of that ETP.Historical

performance is not an indication of future performance and any investments may go down in value.

WisdomTree.com n +44 (0) 207 448 4330

Find out more about Energy Commodities with WisdomTree here .

-500 -300 -100 100 300Net Position Flows (mUS$)

Last Week Last Day

0.0

0.1

0.2

0.3

0.4

87

91

95

99

103

Na

tura

l G

as

Pri

ce

(U

S$

)

Oil

Pri

ce

(U

S$

)

Brent Crude Oil WTI Crude Oil Natural Gas

61

69

77

85

93

M1

M4

M7

M1

0

M1

3

M1

6

M1

9

M2

2

M2

5

M2

8

M3

1

M3

4

US

$/b

bl.

Maturity (Month)24 Feb 22 17 Feb 2225 Jan 22 31 Dec 21

66

74

82

90

98

M1

M4

M7

M1

0

M1

3

M1

6

M1

9

M2

2

M2

5

M2

8

M3

1

M3

4

US

$/b

bl.

Maturity (Month)24 Feb 22 17 Feb 2225 Jan 22 31 Dec 21

https://www.wisdomtree.eu/en-gb/resource-library/guide-to-commodities#tab-E978EBFF-D23C-4B50-8D68-6D41ACF96784?utm_source=PDF&utm_medium=Print&utm_campaign=SL-Daily-Update










8

WTI Crude Oil Future FocusWTI Crude Oil

Contract

Closing

PriceLast 1D

Last

1WLast 1M

Year to

Date

Open

Interest

Open Interest

∆1D

Last Trade

Date

Apr 22 92.8 0.8% 3.1% 12.6% 24.7% 346,771 -288 22 Mar 22

May 22 90.9 0.3% 3.1% 11.5% 23.0% 229,570 2,485 20 Apr 22

Jun 22 88.8 -0.3% 2.9% 10.1% 21.1% 211,315 7,781 20 May 22

Jul 22 87.0 -0.7% 2.6% 9.0% 19.5% 98,112 611 21 Jun 22

Aug 22 85.5 -1.0% 2.4% 8.2% 18.5% 76,355 2,199 20 Jul 22

Sep 22 84.3 -1.2% 2.3% 7.8% 17.8% 102,416 4,502 22 Aug 22

Dec 22 81.7 -1.4% 2.1% 7.4% 17.0% 257,035 1,180 21 Nov 22

Dec 23 75.2 -1.9% 1.5% 7.0% 15.9% 123,684 -219 20 Nov 23

Dec 24 71.7 -2.0% 1.3% 7.3% 16.2% 40,045 1,496 20 Nov 24

Brent Crude Oil Future FocusBrent Crude Oil

Contract

Closing

PriceLast 1D

Last

1WLast 1M

Year to

Date

Open

Interest1

Open Interest

∆1D1

Last Trade

Date

Apr 22 99.1 2.3% 6.6% 16.0% 28.1% 146,383 n.a. 28 Feb 22

May 22 95.4 1.5% 5.1% 12.8% 24.1% 475,352 n.a. 31 Mar 22

Jun 22 92.9 0.8% 4.3% 11.0% 21.6% 325,443 n.a. 29 Apr 22

Jul 22 91.2 0.4% 3.9% 10.0% 20.2% 160,284 n.a. 31 May 22

Aug 22 89.8 0.1% 3.7% 9.3% 19.2% 81,049 n.a. 30 Jun 22

Sep 22 88.7 -0.1% 3.5% 8.8% 18.6% 126,701 n.a. 29 Jul 22

Dec 22 86.2 -0.4% 3.2% 8.3% 17.6% 213,837 n.a. 31 Oct 22

Dec 23 79.9 -1.1% 2.3% 7.3% 15.3% 136,934 n.a. 31 Oct 23

Dec 24 76.4 -1.5% 1.8% 7.1% 14.6% 53,953 n.a. 31 Oct 24

LAST 5 DAYS PERFORMANCE FOR WTI CRUDE OIL FUTURES

LAST 5 DAYS PERFORMANCE FOR BRENT CRUDE OIL FUTURES


Source: Bloomberg, WisdomTree. All data are as of 24 February 2022. Future Prices are in USD.The Futures contract used in this page are as

follows:For WTI, Apr 22:CLJ2, May 22:CLK2, Jun 22:CLM2, Jul 22:CLN2, Aug 22:CLQ2, Sep 22:CLU2, Dec 22:CLZ2, Dec 23:CLZ3, Dec 24:CLZ4.

For Brent, Apr 22:COJ2, May 22:COK2, Jun 22:COM2, Jul 22:CON2, Aug 22:COQ2, Sep 22:COU2, Dec 22:COZ2, Dec 23:COZ3, Dec 24:COZ4.

1) As of 23 February 2022.

Find out more about Energy Commodities with WisdomTree here .


24 February 2022

Crude Oil Focus


WisdomTree.com n +44 (0) 207 448 4330

78

84

90

96

102

Oil

Pri

ce

(U

S$

)

WTI Crude Oil Future - Apr 22 WTI Crude Oil Future - May 22WTI Crude Oil Future - Jun 22 WTI Crude Oil Future - Dec 22

82

88

94

100

106

Oil

Pri

ce

(U

S$

)

Brent Crude Oil Future - Apr 22 Brent Crude Oil Future - May 22Brent Crude Oil Future - Jun 22 Brent Crude Oil Future - Dec 22











9


Index NameClosing

PriceLast 1D

Last

1WLast 1M

Year to

Date

Current

Positionning

Positionning

2021 Avg.

Aluminum 3,412 3.2% 4.0% 12.4% 21.5% 172,736 46,744

Copper 446 -0.6% -1.5% 1.1% -0.1% 85,151 50,244

Lead 2,349 0.4% 0.0% -0.5% 1.9% 49,377 47,369

Nickel 25,131 1.4% 3.9% 11.5% 20.7% 52,143 -2,484

Tin 45,441 0.6% 3.2% 6.2% 16.4% 7,256 5,681

Zinc 3,653 2.0% 1.1% 1.0% 3.0% 61,484 22,987

LAST 5 DAYS PERFORMANCE FOR COPPER AND NICKEL FUTURES1

COPPER COMEX FUTURE CURVE1 NICKEL LME FUTURE CURVE1

RECENT POSITION FLOWS IN WISDOMTREE INDUSTRIAL METAL ETPs2

mUS$

as of 24/02/2022Copper Nickel Lead Tin Zinc Aluminium

Industrial

Metals

Last Day 8.2 -0.7 0.0 0.5 0.0 1.4 3.9

Last Week 9.1 -3.1 0.0 0.8 0.6 5.6 15.9

Last 4 Weeks 45.5 -13.3 0.0 1.5 0.0 7.3 28.2

Year to Date 47.5 5.7 0.0 1.0 1.1 -0.7 56.0

Baseline AUM (Dec 21) 625 236 2 10 25 69 883


Industrial Metals Focus


24 February 2022

Source: Bloomberg, WisdomTree. All data are as of 24 February 2022. CFTC Futures and LME COTR net positionnings as at 15 February 2022

and 18 February 2022 respectively.. 3) All Performances are calculated on excess return indices. Closing Price are those of the Front Month Data about all indices can be found in Page 11 and 12. 1) The Ticker of the future used for these graphs can be found in page 11&12. 2) Net

Position Flows and Net Position AUM are calculated by multiplying the AUM/Flow in a given ETP by the leverage of that ETP.Historical

performance is not an indication of future performance and any investments may go down in value.

WisdomTree.com n +44 (0) 207 448 4330

Find out more about Industrial Metals with WisdomTree here .

-4 1 6 11 16


Last Week Last Day

445

449

453

457

461

24,100

24,600

25,100

25,600

26,100

Co

pp

er

Pri

ce

(US

$)

Nic

ke

l P

ric

e

(US

$)

Nickel Copper

4.3

4.3

4.4

4.5

4.5

M1

M3

M5

M7

M9

M1

1

M1

3

M1

5

M1

7

M1

9

M2

1

M2

3

M2

5

US

$/l

b

Maturity (Month)24 Feb 22 17 Feb 22

25 Jan 22 31 Dec 21

20.0

22.0

24.0

26.0

28.0

M1

M4

M7

M1

0

M1

3

M1

6

M1

9

M2

2

M2

5

M2

8

M3

1

M3

4

kU

S$

/MT

Maturity (Month)24 Feb 22 17 Feb 22

25 Jan 22 31 Dec 21

https://www.wisdomtree.eu/en-gb/resource-library/guide-to-commodities#tab-14A40ACA-F2AE-4590-995D-FA646353193B?utm_source=PDF&utm_medium=Print&utm_campaign=SL-Daily-Update










10


Index NameClosing


Year to

Date

Current

Positionning

Positionning

2021 Avg.

Wheat 926 5.7% 16.2% 15.8% 20.3% -21,390 19,560

Corn 695 1.3% 6.3% 11.1% 16.3% 405,374 409,764

Soybean 1,662 -1.0% 3.6% 17.7% 23.3% 208,636 129,629

Soybean Oil 72.0 2.0% 7.6% 16.1% 27.3% 67,767 79,296

Cotton 122.6 -1.8% -0.3% 1.1% 8.1% 96,883 89,972

Cocoa 2,578 -1.8% -1.5% 3.0% 1.9% 43,624 19,795

Coffee 239 -3.9% -5.1% 2.0% 5.1% 72,005 51,507

Sugar 17.9 0.2% 1.0% -2.6% -2.9% 77,060 244,330

Live Cattle 142 -1.7% -3.0% 1.6% -1.1% 107,540 86,305

Lean Hogs 105.5 -2.3% -1.9% 10.7% 19.1% 86,625 77,991

RELATIVE STRENGTH INDICATOR MACD INDICATOR

RECENT POSITION FLOWS IN WISDOMTREE AGRICULTURE ETPs1

mUS$

as of 24/02/2022Softs Cocoa Coffee Cotton Sugar

Last Day 0.0 1.0 -4.8 0.0 -1.7

Last Week 0.0 1.8 -3.9 0.1 -1.2

Last 4 Weeks 0.1 -3.8 -11.5 0.4 -1.2

Year to Date 0.3 -16.7 -18.9 -0.8 1.7

Baseline AUM (Dec 21) 3 49 106 8 43

mUS$

as of 24/02/2022Grains Wheat Corn Soybean

Lean

HogsLive Cattle Livestock

Last Day 0.9 2.4 3.3 -1.1 0.0 0.3 0.0

Last Week 2.0 -0.7 3.8 -1.1 0.0 0.5 0.0

Last 4 Weeks 2.2 4.3 4.8 -0.5 -0.8 0.5 0.0

Year to Date 5.2 17.2 2.4 -0.7 -1.6 0.2 0.0

Baseline AUM (Dec 21) 33 88 35 15 7 1 2


24 February 2022

Agriculture Focus


Agriculture

3.1

13.2

16.0

17.0

235

Source: Bloomberg, WisdomTree. All data are as of 24 February 2022. CFTC net positionnings as at 15 February 2022. 1) Net Position Flows and

Net Position AUM are calculated by multiplying the AUM/Flow in a given ETP by the leverage of that ETP. 2) All Performances are calculated on

excess return indices. Closing Price are those of the Front Month Future in USD. Data about all indices can be found in Page 11 and 12.

WisdomTree.com n +44 (0) 207 448 4330

MACD stands for Moving Average Convergence Divergence. Historical performance is not an indication of future performance and any

investments may go down in value.

Find out more about Softs and Grains Futures with WisdomTree here .

-5 -3 -1 1 3


Last Week Last Day

-2 2 6 10 14


Last Week Last Day

-20 -10 0 10 20

SugarCotton

Live CattleSoybean Oil

CocoaCorn

WheatSoybean

MACD Indicator (12,26)

Top 4

Bottom 4

0 50 100

SugarCoffeeCocoaCotton

WheatCorn

SoybeanSoybean…

Relative Strength Indicator (14Days)

Most Overbought

Most Oversold

https://www.wisdomtree.eu/en-gb/resource-library/guide-to-commodities#tab-484FE0F2-8EA7-4697-8427-59141E411A70?utm_source=PDF&utm_medium=Print&utm_campaign=SL-Daily-Update










11

INDEX MAP (1/2)

Handle Index NamePrice Return

Index Ticker

Total Return

Index Ticker

Excess Return

Index Ticker

Future

Ticker

MSCI World MSCI World Index MXWO NDDUWI Index

MSCI EM MSCI Emerging Markets Index MXEF NDUEEGF Index

S&P 500 S&P 500 Index SPX SPTR500N Index ES

Dow Jones Dow Jones Industrial Average Index INDU DJINR Index

Nasdaq 100 NASDAQ 100 Stock Index NDX XNDXNNR Index

Euro Stoxx 50 EURO STOXX 50 Index SX5E SX5T Index VG

FTSE 100 FTSE 100 Index UKX UKXNUK Index

DAX DAX Index DAX DAXNR Index

CAC 40 CAC 40 Index CAC NCAC Index

FTSE MIB FTSE MIB Index FTSEMIB FTSEMIBN Index

IBEX 35 IBEX 35 Index IBEX IBEXNR Index

Nikkei Nikkei 225 NKY NKYNTR Index

Hang Seng Hong Kong Hang Seng Index HSI HSI1N Index

CSI 300 Shanghai Shenzhen CSI 300 Index SHSZ300 CSIN0300 Index

Quality MSCI World Quality Index MXWOQU M1WOQU

Momentum MSCI World Momentum Index MXWOMOM M1WOMOM

Min Vol MSCI World Minimum Volatility Index MXWOMVOL M00IWO$O

Value MSCI World Enhanced Value Index MXWOEV M1WOEV

High Div MSCI World High Dividend Yield Index MXWDHDVD M1WDHDVD

Size MSCI World Small Cap Index MXWOSC NCUDWI

EUR Gov. Bloomberg Barclays EuroAgg Treasury Index LEATTREU

US Gov. Bloomberg Barclays US Treasury LUATTRUU

UK Gilt Bloomberg Barclays Sterling Gilts Index LSG1TRUU

EUR IG Corp.Bloomberg Barclays Euro Aggregate

Corporate IndexLECPTREU

USD IG Corp. Bloomberg Barclays US Corporate Index LUACTRUU

UK IG CorpBloomberg Barclays Sterling Corporate

IndexLC61TRGU

EUR HY/EUR

High Yield

Bloomberg Barclays Pan-European High

Yield (Euro) IndexLP02TREU

USD HY/USD

High Yield

Bloomberg Barclays US Corporate High Yield

IndexLF98TRUU

CoCos/Global

Cocos

iBoxx Contingent Convertible Liquid

Developed Europe AT1IBXXCCL1

BCOM Bloomberg Commodity Index BCOM

3M FwdBloomberg Commodity Index 3 Month

ForwardBCOMF3

Roll Select Bloomberg Roll Select Commodity Index BCOMRS

Optim Roll-WT Optimized Roll Commodity Index Index EBCIWTE

UBS CMCI UBS Bloomberg CMCI Composite Index CMCIER

UBS CMCI

(BCOM)

UBS Bloomberg BCOM Constant CMCI

Composite IndexCMDJCIER

Gold Bloomberg Gold Subindex BCOMGC GC

Physical Gold LBMA Gold Price PM USD GOLDLNPM

Platinum BCOM Palladium Subindex BCOMPL PL

Silver Bloomberg Silver Subindex BCOMSI SI

Physical Silver LBMA Silver Price - Price/USD SLVRLND

Palladium Bloomberg Platinum Subindex BCOMPA PA

Brent Oil Bloomberg Brent Crude Subindex BCOMCO CO

WTI Oil Bloomberg WTI Crude Oil Subindex BCOMCL CL

Natural Gas Bloomberg Natural Gas Subindex BCOMNG NG

Heating Oil Bloomberg Heating Oil Subindex BCOMHO HO

Gasoline Bloomberg Unleaded Gasoline Subindex BCOMRB XB

Aluminum Bloomberg Aluminum Subindex BCOMAL LA

Carbon Solactive Carbon Emission Allowances Rolling Futures Index SOLCARBF MO



24 February 2022

Source: Bloomberg, WisdomTree. As of 24 February 2022

Appendix

WisdomTree.com n +44 (0) 207 448 4330

12

INDEX MAP (2/2)

Handle Index NamePrice Return

Index Ticker

Total Return

Index Ticker

Excess Return

Index Ticker

Future

Ticker

Copper Bloomberg Copper Subindex BCOMHG HG

Lead Bloomberg Nickel Subindex BCOMPB LL

Nickel Bloomberg Nickel Subindex BCOMNI LN

Tin Bloomberg Zinc Subindex BCOMSN LT

Zinc Bloomberg Zinc Subindex BCOMZS LX

Wheat Bloomberg Wheat Subindex BCOMWH W

Corn Bloomberg Corn Subindex BCOMCN C

Soybean Bloomberg Soybeans Subindex BCOMSY S

Soybean Oil Bloomberg Soybean Oil Subindex BCOMBO BO

Cotton Bloomberg Cotton Subindex BCOMCT CT

Cocoa Bloomberg Cocoa Subindex BCOMCC CC

Coffee Bloomberg Coffee Subindex BCOMKC KC

Sugar Bloomberg Sugar Subindex BCOMSB SB

Live Cattle Bloomberg Live Cattle Subindex BCOMLC LC

Lean Hogs Bloomberg Lean Hogs Subindex BCOMLH LH

DXY US Dollar Index Spot Rate DXY

EUR/USD EURUSD Spot Exchange Rate EURUSD

EUR/GBP EURGBP Spot Exchange Rate EURGBP

EUR/JPY EURJPY Spot Exchange Rate EURJPY

GBP/USD GBPUSD Spot Exchange Rate GBPUSD

GBP/EUR GBPEUR Spot Exchange Rate GBPEUR

CHF/USD CHFUSD Spot Exchange Rate CHFUSD

CHF/EUR CHFEUR Spot Exchange Rate CHFEUR

USD/EUR USDEUR Spot Exchange Rate USDEUR

USD/JPY USDJPY Spot Exchange Rate USDJPY

Precious Metals Bloomberg Precious Metal Subindex BCOMPR

Energy Bloomberg Energy Subindex BCOMEN

Industrial Metals Bloomberg Industrial Metals Subindex BCOMIN

Agriculture Bloomberg Agriculture Subindex BCOMAG

Grains Bloomberg Grains Subindex BCOMGR

Softs Bloomberg Softs Subindex BCOMSO

Livestock Bloomberg Livestock Subindex BCOMLI

VIX CBoe Volatility Index VIX

VSTOXX EURO STOXX 50 Volatility Index V2X

CDX High Yield Markit CDS North America High Yield

iTraxx Crossover Markit iTraxx Europe Crossover Index

Bitcoin CME CF Bitcoin Reference Rate BRR

Ethereum CME CF Ether Reference Rate ETHUSDRR

Gold Spot Gold US Dollar Spot XAU

Silver Spot Silver US Dollar Spot XAG

Dictionary of some abbreviationsLast 1D Last 1 DayLast 1W Last 1 WeekLast 1M Last 1 Month∆1D Change in value over the last day∆1W Change in value over the last week∆1M Change in value over the last month∆year to Date Change in value since the end of last year

For Equity Indices as the last available Close Price of the index at the as of dateFor Futures, it is the settlement price of the future for the as of date



24 February 2022

Source: Bloomberg, WisdomTree. As of 24 February 2022

Appendix

WisdomTree.com n +44 (0) 207 448 4330

For Discount to NAVs and Bid Offer Spread Analysis, we consider the 5 largest ETPs in their Asset Class/Asset for

US domiciled and Europe domiciled.Net Position AUM is the sum of the AUM in each ETP multiplied by its leverage factor (which may be either

negative or positive). A negative figure indicates investors are net short.Net Position Flow is the change in the Net Position AUM that is not due to price changes and indicates whether

investors are bullish (net long) or bearish (net short) after taking leverage factor into account.

CDX HY CDSI GEN 5Y SPRD

ITRX XOVER CDSI GEN 5Y

Closing Price

13

WisdomTree.com n +44 (0) 207 448 4330


Important Information

Communications issued in the European Economic Area (“EEA”): This document has been issued and

approved by WisdomTree Ireland Limited, which is authorised and regulated by the Central Bank of Ireland.

Communications issued in jurisdictions outside of the EEA: This document has been issued and approved by

WisdomTree UK Limited, which is authorised and regulated by the United Kingdom Financial Conduct Authority.

WisdomTree Ireland Limited and WisdomTree UK Limited are each referred to as “WisdomTree” (as applicable).

Our Conflicts of Interest Policy and Inventory are available on request.

For Professional Clients Only. The information contained in this document is for your general information

only and is neither an offer for sale nor a solicitation of an offer to buy securities or shares. This document

should not be used as the basis for any investment decision. Investments may go up or down in value and

you may lose some or all of the amount invested. Past performance is not necessarily a guide to future

performance. Any decision to invest should be based on the information contained in the appropriate

prospectus and after seeking independent investment, tax and legal advice.

This document is not, and under no circumstances is to be construed as, an advertisement or any other step in

furtherance of a public offering of shares or securities in the United States or any province or territory thereof.

Neither this document nor any copy hereof should be taken, transmitted or distributed (directly or indirectly) into

the United States.

This document may contain independent market commentary prepared by WisdomTree based on publicly

available information. Although WisdomTree endeavours to ensure the accuracy of the content in this document,

WisdomTree does not warrant or guarantee its accuracy or correctness. Any third party data providers used to

source the information in this document make no warranties or representation of any kind relating to such data.

Where WisdomTree has expressed its own opinions related to product or market activity, these views may

change. Neither WisdomTree, nor any affiliate, nor any of their respective officers, directors, partners, or

employees accepts any liability whatsoever for any direct or consequential loss arising from any use of this

document or its contents.

This document may contain forward looking statements including statements regarding current expectations or

beliefs with regards to the performance of certain assets classes and/or sectors. Forward looking statements are

subject to certain risks, uncertainties and assumptions. There can be no assurance that such statements will be

accurate and actual results could differ materially from those anticipated in such statements. WisdomTree

strongly recommends that you do not place undue reliance on these forward-looking statements.

None of the index providers of the products referred to herein nor their licensors make any warranty or

representation whatsoever either as to the results obtained from use of the relevant indices and/or the figures at

which such indices stand at any particular day or otherwise. None of the index providers shall be liable to any

person for any errors or significant delays in the relevant indices nor shall be under any obligation to advise any

person of any error or significant delay therein.


24 February 2022

11 November 2021 DAILY MARKET UPDATE - WisdomTree

Documents

Transcript of 11 November 2021 DAILY MARKET UPDATE - WisdomTree